‘Disappointing’

to TheManilaTimes.

- pan’s economy, then risk assets such as emerging markets (including the Phil

stimulus,” instead of the expected “helicopter money.”

- pointed with only token stimulus,” said economist, in an e-mail to TheTimes.

Mapa earlier said, “Although enact- ing the “’traditional’ means of helicopter money are deemed unconstitution easing program via availability to purchase perpetual bonds would get that chopper off the ground.”

stimulus program at current levels, he said, the Philippines will have to see how strong the data is from the US going forward and “see how the Fed

“For now, we may see more risk-on sentiment as the Fed looks to be on may eventually need to ease monetary policy further,” Mapa said.

The Fed on Wednesday (Thursday in Manila) left key interest rates untouched but acknowledged improved economic performance. Their improving view on economic conditions left open the possibility of an increase in the benchmark federal funds rate, currently at 0.25- 0.50 percent, by December.

Putting behind the surprise sharp downturn in job creation in May that had raised worries about the economy, the Federal Open Market Committee (FOMC) which sets the monetary policy, said employment and economic growth had grown moderately since

They also appeared to see less threat the European Union, which took place a week after the last FOMC meeting.